Saturday, November 05, 2016
Warner: Home Entertainment Rise Can't Offset Theatrical Slump
Warner Home Video Nov. 5 reported third-quarter (ended Sept. 30) revenue of $390 million from packaged media and digital distribution of movies — up 5% from revenue of $371 million during the prior-year period. The results were not enough to offset Warner Bros. Studios from reporting a 23% ($70 million) decline in quarterly operating income to $237 million. The decline was attributed to the industry-wide soft summer box office and lower off-network (syndication) domestic license fees.
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